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Hedge funds have increased their exposure to the so-called Magnificent Seven tech stocks to a record high on the back of Nvidia’s latest earnings report, which surpassed analyst expectations, according to a report by Bloomberg.
Nelson Peltz, the boss of activist hedge fund firm Trian Fund Management, has sold his entire stake in Walt Disney Co weeks after losing a proxy battle in April at the entertainment giant, according to a report by CNBC.
BlueFlame AI, a generative AI platform that enables alternative investment managers to search and analyse their data and workflows, has appointed Ed Chu, part of the founding team at quant hedge fund Kepos Capital, as Chief Technology Officer.
Digital asset investment products saw inflows of $1.05bn last week, the third consecutive positive week, taking cumulative YTD flows to a record $14.9bn, according to the latest Digital Assets Fund Flows Weekly Report from CoinShares.
Paul Meggyesi, a former JPMorgan managing director who has been ‘semi-retired’ since late 2022, has returned to full-time employment as a macro and FX strategist at hedge fund ExodusPoint Capital Management in London, according to a report by eFinancial Careers.
Gold futures rose 1% to $2,358 a troy ounce yesterday, making gains ahead of inflation data, as hedge funds ramped up their bullish bets on precious metals, ahead of the latest US inflation data, according to a report by Barron’s.
Jefferies Financial Group, the main creditor of hedge fund Weiss Multi-Strategy Advisers, which went bust in April after over 40 years of trading, says the fund should claw back about $30m that it paid employees just before filing for bankruptcy, according to a report by Bloomberg.
The California State Assembly is considering a bill requiring private equity firms and hedge funds to obtain consent from the state’s Attorney General prior to any change of control or acquisition of healthcare facilities or provider groups.Â
Activist hedge fund firm Elliott Investment Management has disclosed a stake of more than $2.5bn in chipmaker Texas Instruments, and has written a letter to the company’s board urging the business to improve its free cashflow.
Full-service brokerage and investment banking firm Stifel Financial has entered a prime brokerage services referral partnership with global diversified financial services platform Marex Group, which intends to help both firms’ broker-dealer affiliates to better service their hedge fund and investment management clients. Â
